tailieunhanh - The 2013-14 Budget: California’s Fiscal Outlook

Net capital gains reported by resident tax filers climbed as high as $120 billion in 2000 (equal to percent of personal income) and $132 billion in 2007 ( percent of personal income), as shown in Figure 10. Such increases were driven by “asset bubbles” in the stock market and/or the real estate market. Net capital gains fell to $29 billion in 2009 ( percent of personal income) before rising, along with the recovery in the stock market, to $55 billion in 2010 ( percent of personal income). While the stock market has grown fairly well during much of the time since then, we assume that net capital gains. | The 2013-14 Budget California s Fiscal Outlook MAC TAYLOR LEGISLATIVE ANALYST NOVEMBER 2012 LAOà Table of Contents Chapter 1 The Budget Chapter 2 Economy Revenues and Chapter 3 Expenditure Legislative Analyst s Office .

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